Market Report for Apr 20 2020

Video length: 27 mins

New Positions:
None

Trade Zones:
AMD
BMY
DOCU
DXCM
FNV
LULU
MLNX – possible take over by NVDA
NVDA
PLMR
RGEN
TEAM
VEEV

Market Trend:
Up

Market YTD:
Nasdaq Composite -3.6% YTD
S&P 500 -11.0% YTD
Dow Jones Industrial Average -15.1% YTD
Russell 2000 -26.3% YTD

Market Volume:
NYSE Vol: 1.4B
Nasdaq Vol: 4.3B

Key U.S. News:
None

Comments:
The markets end the week near session highs amid hopes for COVID-19 treatment

The S&P 500 manages to creep over its d50MA. Dow Jones Industrial Average is approaching the d50MA. Nasdaq Composite is leading the way dealing above both its d50MA and DVI while Russell 2000 is the laggard and has a way to go before reaching the averages.

If the S&P 500 can remain above this level next week then 3000/DVI is its next target. Watch for any candlestick indecision to suggest pullback/reversal but price is our main indicator and right now it continues to indicate strength.

We will look to add to our book slowly over the coming days and week if this momentum continues.

Lets go trade!